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Medipacs Initial Financing

TUCSON, Ariz., May 27 /PRNewswire/ -- Medipacs, Inc., a Tucson, Arizona based medical device company, announced today that is has secured an initial financial investment of $1.65 million. The financing has been provided by Mesa Verde Venture Partners and other investors in Tucson, San Diego, Phoenix and Washington D.C.

Medipacs Inc. CEO, Mark McWilliams comments: "We are very pleased with the tremendous response by interested investors in our novel disposable infusion technology and the unique business model we have developed for its commercialization."

Mesa Verde's Managing Member, Daniel C. Wood, CFA, states, "We have a high regard for the team, the science and the Board assembled by the Company We are very pleased to be the first institutional investor in Medipacs."

Mesa Verde Venture Partners is a biomedical, seed/start-up venture capital fund based in San Diego, with Venture Partners in Utah, Arizona and New Mexico.

For additional company information, please contact Kent Smith, Vice President of Marketing at 858 228 0348.

Medipacs, Inc. is a Tucson based early-stage medical device company with expertise in hydrogel polymers. It is developing advanced infusion technologies and is now focused on its first commercial application, a programmable disposable infusion device. Medipacs is a client at the Arizona Center for Innovation (AzCI), located at the University of Arizona Science and Technology Park in Tucson, AZ. For information about AzCI, please contact Marie Wesselhoft, Director, at: (520) 382-3265.

SOURCE Medipacs, Inc.
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